According to @KobeissiLetter, global fund managers’ cash allocation is at 3.2%, the lowest level since the survey began in the 1990s. Source: @KobeissiLetter (X). According to @KobeissiLetter, this reflects a 1.6 percentage point drop since April, ranking among the fastest declines in the survey’s history. Source: @KobeissiLetter (X). According to @KobeissiLetter, institutions currently hold historically minimal dry powder, indicating capital is more fully deployed than usual. Source: @KobeissiLetter (X). According to @KobeissiLetter, the post does not provide a breakdown by asset class or any crypto-specific metrics. Source: @KobeissiLetter (X).